Daniel Figueroa

Your USDT can be frozen right in your wallet. How is this possible? In 2023, Tether (the issuer of USDT) made an important announcement that shook the crypto community. The company froze 161 addresses under OFAC sanctions and continued close cooperation with regulators worldwide. 🔘 How does the freezing of USDT and USDC work? Despite their popularity, stablecoins USDT and USDC are managed by centralized companies — Tether and Circle. This means they have full control over issuance, transactions, and even freezing funds at specific addresses. This practice isn’t new. The first freezes by Tether date back to 2017, and the number of frozen addresses has increased each year. For example: Tether has already frozen 1,820 addresses with assets totaling $1.27 billion. Circle has frozen 241 addresses with $80 million. (A more modest amount) 🔘 Why are addresses frozen? Sanctions and fraud prevention. Companies comply with regulatory requirements, such as those from OFAC and the U.S. Department of Justice, freezing funds related to criminal activity. Reputation protection. Tether responds to reports of scams or mistakes. In 2020, they reversed a $1 million transaction mistakenly sent by a user. Maintaining relationships with regulators. Companies strive to keep good relations with regulators, especially in the U.S. In 2023, Tether spent around $700,000 on lobbying and holds more U.S. debt securities as reserves for its stablecoin than countries like Australia or Spain. 🔘 Why is this dangerous? While the freezing feature helps protect against fraud and illegal activity, it contradicts the principles of decentralization. Cryptocurrencies were designed to be an independent system, where decisions are made based on strict algorithms, without human intervention. 🔘 How does freezing work technically? It’s important to understand that the assets you see in blockchain explorers (like Etherscan) are not actually stored on addresses. They are merely data broadcast by USDT/USDC smart contracts. If the issuer decides to burn the assets, they simply stop showing up at that address. That’s how the ERC20 standard works. 🔘 What about DAI? DAI from MakerDAO was long considered a decentralized alternative to USDT and USDC. However, the new stablecoin USDS (instead of DAI) from MakerDAO (now SKY) introduces the possibility of freezing funds in smart contracts. While the community will decide on the freeze parameters, this step is driven by inevitable regulatory requirements. This shows how even decentralized projects are forced to adapt to new conditions. 🔘 How to avoid being frozen? Avoid sanctioned addresses. Check your counterparties and the origin of funds through AML services. Use reliable platforms. Buy USDT and USDC on trusted exchanges with good reputations or from exchangers you can trust. 💬 Freezing stablecoins is a reality we have to face. Full decentralization is becoming a utopia.

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99% of people won't look at this. 💡 The SEC has just dropped its investigation into Ethereum 2.0. 💥 This is a landmark moment for the crypto world. 👉 2018: SEC said Ether wasn’t a security. 👉 Last year: SEC started investigating ETH as a security. 👉 April: Consensys sued the SEC to defend ETH as a commodity. 👉 May: ETH ETFs got the green light. 👉 Now: SEC backs off after public and political support. Consensys is relieved but pushing for clearer rules instead of tough legal battles. Will this lead to better crypto regulations? Let’s chat. Link to the news in the comment section.

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Yet Another SEC Crypto/DAO Victory (A Settled Action) Just about every crypto iteration is an investment contract of some sort, triggering the U.S. securities laws. That is now axiomatic. Whatever the concoction, if an entity sells securities ('33 Act), transacts in securities ('34 Act) or bundles securities ('40 Act), that security and/or entity must register with the SEC. That's why the SEC's winning streak of 200+ crypto-related enforcement actions continues ad infinitum. Learn more about it all on an X Space I did this weekend with special guest, Daren Firestone who runs the website cryptowhistleblower.com. The Space is captioned "SEC Crypto Enforcement Update/Why Crypto is a Mammoth Ponzi Scheme/AMA." 6,600 have already tuned in -- check it out at: https://lnkd.in/ed859CMD Today's SEC enforcement action involved settled SEC charges against Mango DAO and Blockworks Foundation for engaging in the unregistered offer and sale of crypto assets called “MNGO” tokens. The SEC also settled charges against Blockworks Foundation and Mango Labs LLC for engaging in unregistered broker activity in connection with various crypto assets being offered and sold as securities on the Mango Markets platform. https://lnkd.in/e8HBM2-T Per the SEC, starting in August 2021, Mango DAO, a purportedly decentralized autonomous organization, or DAO, and Blockworks Foundation, a Panamanian entity, raised more than $70 million from unregistered offers and sales of MNGO tokens, the so-called governance tokens of the Mango Markets platform, to hundreds of investors worldwide, including in the U.S. The SEC also alleges that, since at least August 2021, Blockworks Foundation and Mango Labs each operated as an unregistered broker by actively soliciting and recruiting users of Mango Markets to trade securities; providing advice and valuations as to the merits of an investment in securities; and helping to facilitate securities transactions on the Mango Markets platform by assisting customers in opening accounts and regularly handling customer funds and securities. https://lnkd.in/e8HBM2-T Per Jorge G. Tenreiro, Acting Chief of the Crypto Assets and Cyber Unit: “Since the inception of our crypto enforcement program, our view has been that the label ‘DAO’ does not change the reality of who is behind a project, what activities they engage in, or whether their activities need to be registered. Nor does engaging in intermediation of securities with the aid of automated or open source software change the nature of such activities. If you engage in securities-intermediary functions, you must register or be exempt from doing so, regardless of the technology employed and the type of legal entity used.” Fail not at your peril crypto-promoters, issuers and shills, the SEC has you squarely in their sights, and is coming at you -- and they will not miss.

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Two fundamental factors strengthen TON's long-term buying thesis: Mobile User Adoption Mobile wallets demonstrate consistent USDT movement through Telegram integration, indicating strong retail adoption. Small transactions dominate these flows, confirming active daily usage. Exchange Infrastructure Binance and OKX continue to expand their TON support, strengthening on/off ramp capabilities. The gaming ecosystem within Telegram drives additional token flows through these major exchanges. However, caution is given to AML risks from these wallets to exchanges, and OTC's. Keen for your yearly insight Chainalysis Read Full Insight on CryptoQuant https://lnkd.in/d9N7PzcV

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UN Trade and Development (UNCTAD) observes two major trends: 1.a. Weak trade and weak investment - meaning for the the LDCs weak growth! - in the estimates of all IOs. 1.b. FDI was found weak for the 2nd straight year 2.a The funds directed towards the SDGs and the related sectors to the SDGs fell by 10% in 2023 - worrying trend 3. Since 2019 the geographical distribution of manufacturing projects mainly shifted closer to OECD markets - with new strategic locations for the TNCs. 3.b. Decentralization ito investment esp wrt manufacturing - towards Central America, Mexico, West Asia and North Africa - are the beneficiary region 4. Total Investment landscape - wrt Decline of FDI - decreased 2% in 2023! Stabilized around 1.3 Trillion USD - nothing major is happening - going down but not dramatically but remains stable... Developing nations saw a decline of 7% of FDI - meaning - which is more damaging than the 10% average decline. Decline in investment related to the SDGs sectors #UNCTAD thinks that there will be a most growth in 2024 - change of tendency - more optimistic - extra effort to ease the financial conditions and investment facilitation - this could support this optimism wrt 2024 The decrease in M&A for EU (14%) & North America (5%) The most vulnerable countries - The LDCs and LLDCs and SIDS saw a slight increase in FDIs When it comes to #SustainableFinance which is part of the worrying trends A marginal growth in sustainable bonds but inflows into sustainable investment flow dropped by 60% - not yielding the expected result - not as stable as it was thought to be See discussion about Green-Washing - because more and more investors are demanding more impact and better credible reporting This means that the investor is becoming more demanding and looking more credible on everything called sustainable/ESG investing. External auditing and 3rd parting rating will be important to maintain the entusiasm towards sustainable finance. Negative spill-overs on the SMEs due to the Sustainability Standards with the SMEs shouldn't be overburdened by many standards (spaghettibowl of standards) - need a system that is credible and that allow SMEs to participate in GVC - but need a more straightward and less complex system!s Investor registration expanded to 124 in 2023/24 - acc. ito investment facilitation - to support the weakest countries with the weakest institutions. Digital government for investment facilitation - benefiting all businesses (domestic/foreign) is an important tool that could strengthen - to counteract wrt weak FDI towards DCs and SDGs investment. GSG Swiss Impact Investment Association United Nations Global Compact UNDP Sustainable Finance Hub Impact Entrepreneur Zambian National Advisory Board for Impact Investment (NABII) Impact Investing Kenya Impact Investing Ghana Impact Investing SA SFG - Sustainable Finance Geneva Swiss Sustainable Finance

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This is interesting: "SEC says investors were defrauded by 'stablecoin' offer." I am glad that the SEC has taken action here, but if stablecoins are not securities then why is U.S. Securities and Exchange Commission involved? If some stablecoins (like the ones in this article that are egregiously fraudulent) fall within the SEC's regulatory purview, while others apparently do not, how does does the Commission decide who should be regulated and who it can ignore? Or is the difference that a stablecoin that does not promise any return, and does not provide a return (because the sponsor keeps all the returns for itself) inoculates itself from regulation by the SEC? I am interested to know how the securities attorneys out there interpret this set of facts. https://lnkd.in/dHBatMHm #stablecoin #crypto #tether #Howey #securitieslaw #securities

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Robinhood Crypto has issued a press release and an 8K that it has been hit with a Wells Notice for violations of Sections 15(a) (registering as a broker dealer) and 17A (registering as a national exchange) of the Securities Exchange Act of 1934. Robinhood seem exceptionally exasperated by their attempts to register as a special purpose broker dealer, although they were seeking an exemption not within the guidance which is very narrow which only allows SPBD to deal in digital securities - but instead looking for the broker dealer to do both digital securities and non security crypto assets. According to a Coindesk article https://lnkd.in/g8JTv5HX Robinhood's CLO stated that a sticking point for the SEC "was the lack of registration and disclosures from issuers of tokens that trade on the platform" - but then as Gallagher pointed out there was no way to enforce that. There was also no reason to believe that registration or disclosure would be helpful or that to the extent any person was associated with a particular crypto asset they would be willing to do so. It is worth noting the Sidley Fintech and Blockchain Symposium recent effort to suggest a disclosure regime https://lnkd.in/gfyPcYQs) but that is focused on project launches and does not really address the difficult situation that for example SPBD's would have addressing assets such as BTC or ETH (not that Prometheum, one of the few SPBD's in existence has addressed this either). #Digitalassets #crypto #wellsnotice #enforcement #disclosure

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To the masses who are discovering crypto and #Bitcoin today, remember, not your keys, not your coins. If you own an ETF or your crypto is on an exchange, you have an IOU, not true ownership. In crypto, ownership means having the private keys in a self-custody wallet like Arculus. getarculus.com

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GM! Friendly reminder that crypto is for criminals* *According to people that are either ignorant of the fact that 99%+ of all money laundering occurs via the traditional financial system (rather than transparent and immutable ledgers), or are desperately trying to distract us from that fact. Headline courtesy of the FT. #crypto #bitcoin #blockchain

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Underrated news today: CFTC advisory subcommittee voted in favor (27-0) of three recommendations to adopt DLT and tokenized assets as collateral for margin. A reminder that some crypto advisers may want to consider CTA registration.

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💥 Coinbase Faces $1 Billion Lawsuit Over wBTC Delisting: Implications for the Crypto Market 💥 Crypto giant Coinbase has found itself in hot water as BiT Global Digital Limited files a $1 billion lawsuit, accusing the exchange of anti-competitive practices. The controversy stems from Coinbase's decision to delist Wrapped Bitcoin (wBTC) in November, a move BiT Global claims was designed to promote Coinbase's competing product, cbBTC. Key Allegations Against Coinbase: 1️⃣ Monopolization: The lawsuit alleges attempted monopolization of the wrapped Bitcoin market under the Sherman Act. 2️⃣ Predatory Practices: Claims that the delisting was a targeted move to erode wBTC's market position. 3️⃣ False Statements: BiT Global argues that Coinbase falsely implied wBTC no longer met listing standards. The lawsuit raises important questions about fairness and competition in crypto. BiT Global's attorney, Kevin Kneupper, warns: "If an exchange as large as Coinbase can delist a cryptocurrency just as it launches a competing product, who’s safe? And who’s next?" Coinbase's Defense: Coinbase maintains that its decision was based on a routine evaluation of listing standards, emphasizing the integrity of its platform. What This Means for the Industry: This lawsuit could set a critical precedent for how exchanges manage listing and competition, potentially reshaping regulatory and operational norms in crypto markets. ❓ What’s your take? Are we seeing fair competition or a dangerous precedent? Share your thoughts below! #CryptoNews #Coinbase #wBTC #DeFi #CryptoRegulation #CryptoCompliance #Australia #Financial #CryptoAdoption #Blockchain #EconomicGrowth #FinanceNews n #BitcoinMilestone #Cryptocurrency #FinanceNews #Bitcoin #Cryptocurrency #CryptoInvesting #CryptoNews #DigitalAssets #BlockchainTechnology #CryptoMarket #CryptoCPA #CryptoTaxation #CryptoCompliance

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🚀 *SEC Ends Probe Into ConsenSys, Won't Sue Over Ethereum 2.0* 🚀 In a significant development for the crypto industry, the U.S. Securities and Exchange Commission (SEC) has concluded its investigation into ConsenSys and Ethereum 2.0 without recommending any enforcement actions. This news, confirmed by letters to ConsenSys' lawyers, has positively impacted the price of ether (ETH), which saw a rise of up to 2.6%. ConsenSys, known for its popular MetaMask wallet, had been under investigation to determine if Ethereum, post-merge, could be classified as a security. The SEC’s decision marks a positive step for Ethereum and its stakeholders. Key Points: - SEC has closed its investigation into ConsenSys and Ethereum 2.0. - No enforcement action will be recommended against ConsenSys. - The price of ether increased following the announcement. #Crypto #Ethereum #SEC #ConsenSys #Blockchain #Finance #Regulation

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#News Alert CFTC Highlights Record $17.1 Billion Recovery in 2024, Mainly Driven by FTX Enforcement Actions - https://lnkd.in/gieqhvUB Highlights Record $17.1 Billion Recovery in 2024, Mainly Driven by FTX Enforcement ActionsThe CFTC’s recent enforcement actions have led to a historic $17.1 billion recovery for victims in cryptocurrency cases, setting new records in regulatory history. This monumental figure reflects the agency’s ongoing fight against fraud in the crypto sector, particularly focusing on major players like FTX and Binance. According to CFTC Chairman Rostin Behnam, “This is […] The CFTC’s recent enforcement actions have led to a historic $17.1 billion recovery for victims in cryptocurrency cases, setting new records in regulatory history. This monumental figure reflects the agency’s ongoing fight against fraud in the crypto sector, particularly focusing on major players like FTX and Binance. According to CFTC Chairman Rostin Behnam, “This is a testament to our commitment to protecting customers and enforcing market integrity.” The CFTC announces a record $17.1 billion recovery for victims in crypto fraud cases in 2024, showcasing aggressive regulatory enforcement in the sector. FTX and Binance top the CFTC’s recovery relief in 2024 The CFTC’s enforcement actions, particularly against FTX and Binance, dominated the $17.1 billion recovery figure. In the landmark FTX case, the CFTC substantiated fraud claims against the crypto exchange and its affiliates. The penalties reached unprecedented heights, with the court mandating $8.7 billion in restitution and an additional $4 billion in disgorgement, culminating in the largest recovery for victims in CFTC history. Following the downfall of FTX in November 2022, founder Sam Bankman-Fried has been sentenced to 25 years in prison, yet the litigation by the CFTC continues against other implicated individuals. The agency is determined to hold accountable not just Bankman-Fried but also key executives like Gary Wang and Caroline Ellison, solidifying the CFTC’s stance on fraud in the digital asset market. Ongoing litigations against major players The CFTC has highlighted persistent legal action against other parties involved in the FTX scandal, including former co-owner Nishad Singh. As the legal landscape evolves, the CFTC remains vigilant in pursuing justice, with ongoing investigations and litigation expected to contribute further to their historical recovery numbers. In a separate but related case, the CFTC’s lawsuit against Binance resulted in a significant financial penalty, where CEO Changpeng Zhao was ordered to pay $150 million alongside $1.35 billion in civil monetary penalties. This demonstrates the CFTC’s unwavering commitment to enforce compliance within the cryptocurrency market. CrypFin News

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🔍 The Shifting Landscape of Crypto Leadership It's not every day you see a titan of the crypto world take a step back. Changpeng Zhao (CZ), the driving force behind Binance, is reportedly scaling down his role. This isn't just any CEO moving on—this is a major shift in the crypto universe. CZ has been synonymous with Binance, one of the largest cryptocurrency exchanges in the world, and his decision could have profound implications for the industry. 🛠️ What's Next for Binance? The crypto community is abuzz with questions: Will Binance maintain its dominance without CZ at the helm? How will this impact the broader crypto market? And most importantly, who will step up to fill CZ's shoes? 📊 Why It Matters For anyone invested in the future of cryptocurrency, this move is a big deal. It’s a reminder that even the most influential figures in the space are not permanent fixtures. As the industry evolves, so too does its leadership. 🌐 A New Era in Crypto? CZ's reduced role might signal the beginning of a new era for Binance—and potentially for the entire crypto ecosystem. The only certainty? Change is inevitable, and those who adapt will thrive. Stay ahead of the curve by keeping an eye on how this unfolds. The crypto world waits for no one. 🚀 What do you think is in store for Binance next? Let's connect and discuss how these shifts might impact your crypto strategy. (And if this post made you think, feel free to reshare ♻️) #Crypto #Blockchain #Leadership #Binance #CZ #Cryptocurrency #CryptoLeadership #CryptoStrategy

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This is not unreasonable, request that bank need to be mindful of exchanging it's customers deposits in lue of a higher price bid buyer for a crypto memes token vouchers. It's not a fact or a prerequisite that a higher bider buyer would emerge to purchase a meme coin from a bank that exchanges it's customers deposited funds for a meme coin. The writing has been on the wall from the getgo, ie "luncheon vouchers" as meme coins are only redeemable by the issuer. Moreover, those would pose an extraneous risk, to bank's thereby inherently without tangible collateral asset not as of fiat issued currency or have the historical history of having a national country generating accounting assets of collateral value. Other than meme coin its perceived reference of price hyperinflation tendency of value references to Fiat Currence's. Which carries consequences for said holders of meme crypto coin wallets. Furthermore, pertaining; to Meme coin DIFI Chain-tech distributed ledgers of a perceived non-intrinsic non-tangible remit it becomes perishable being from as its said having a none-free and clear from adverse claims. Other than that Containing of the said reference to Fiat value currency worth which has no tangible collateral for credible direct claim on any of fiat currency depositors collateral assets; At bank. In any of the 209 listed UN listed {countries of fit credit/debit capital ‘historical’ foundation} of credit.. https://lnkd.in/gyG2a-3R

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All of this happened in crypto this week 👇 1️⃣ Tether reports a $5.2B profit in H1 2024. "Tether announced a record with a new profit benchmark of $5.2B net profit in the first half of the year, with a $1.3B net operating profit in Q2 as USDT's market cap hit new highs." 2️⃣ Circle trades at $5B ahead of IPO. "Circle reached a $9B valuation in 2022 during a failed SPAC deal to go public. According to the report, Circle allows limited trading of its shares in the secondary market ahead of the IPO, but only on a case-by-case basis and in specific situations." 3️⃣ Coinbase posts $1.45B in Q2 revenue. "Net income dropped to $36 million compared to nearly $1.2 billion in Q1. Consumer transaction revenues declined to $665 million, a 29% drop when compared to Q1, while stablecoin revenues rose to over $240 million. " 4️⃣ Polymarket crosses $1B in cumulative volume. "From June to the end of July, Polymarket’s cumulative volume surged about 58%, from $663 million to $1.05 billion." 5️⃣ SEC sues BitClout founder Nader Al-Naji. "Nader Al-Naji, 32, raised more than $257 million from the 'unregistered offers and sales' of a native token, called BTCLT which is on the blockchain-based platform BitClout, the SEC alleged on Tuesday." 6️⃣ Mt. Gox moves $2B+ of BTC to a fresh address. "Mt. Gox has already transferred billions of dollars worth of bitcoin to designated crypto exchanges as part of its ongoing $9 billion payout." 7️⃣ Goldman Sachs CEO says bitcoin could be 'a store of value case.' "The answer came in response to CNBC’s Joe Kernan’s questions around the viability of bitcoin as a reserve asset, similar to gold reserves." 8️⃣ BlackRock says no other crypto ETFs in the foreseeable future. "BlackRock Head of Digital Assets Robert Mitchnick said at the Bitcoin 2024 conference that the launch of spot Ethereum ETFs is unlikely to open the door to funds that track other crypto assets." 9️⃣ US Government moves $2B in Silk Road Bitcoin. "The move comes just two days after former U.S. President Donald Trump, the Republican candidate in this year's presidential election, told the audience at Bitcoin 2024 in Nashville that he would create a national 'strategic Bitcoin stockpile' if elected." 🔟 Russia passes a bill to legalize crypto for international settlements. "Reuters reports that the law is expected to take effect in September and that first crypto transactions could take place before the year ends." --- #tether #USDC #coinbase 👨‍⚕️🧪 Read my free newsletter for the next best web3 products, strategies, and trends. Join 17,000+ web3 builders and investors at: https://launchy.app/

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